Stocks to Watch: Infosys, TCS, Wipro, HUL, SpiceJet, Delta Corp, telcos

The three IT majors are scheduled to report Q3 earnings on Wednesday.

The key benchmark indices look set for a positive start on the back of encouraging global cues. The focus, however, is likely to be on the IT majors - Infosys, TCS and Wipro which are scheduled to announce the Q3 results today. WATCH PREVIEW

As of 08:05 am, the SGX Nifty January futures quoted at 18,235, indicating a likely 140-point gap-up for the NSE benchmark. Meanwhile, here are the other stocks in focus for trade on Wednesday.

Earnings Watch: Other than the IT majors, Indian Merchant Banking Services, Ind Bank Housing, KD Leisures, Kome On Communication, NB Footwear, Pradhin, Roselabs Finance, Tinna Rubber and Infrastructure and Vrinchi are scheduled to announce December quarter results today.

Banks: As per analysts’ projection of 19 listed banks, Bloomberg estimates these banks to post a likely 36.3 per cent YoY growth in net profit at Rs 38,153 crore for the December quarter (Q3FY22), helped by a lower provisioning burden for stressed loans. However, sequentially, net profits may decline 2.2 per cent from Rs 39,022 crore in Q2FY22. READ MORE

Telecoms: The three leading telecom companies in the country are pushing for 90-95% cut in base price of 5G spectrum. The regulator had earlier recommended a price of Rs 492 crore per MHZ for pan-Indian spectrum of this band. Telcos are also seeking easy payment terms of 20-25 years, with 5-6 years of moratorium. READ MORE

Larsen & Toubro: The company’s heavy engineering arm dispatched a repeat order for four identical mega tubular reactors to a large petrochemical complex overseas.

Hindustan Unilever: The FMCG giant has hiked prices of soaps and detergents by 3-20 per cent, including products such as Wheel, Rin, Surf Excel and Lifebuoy, owing to rising raw material costs. READ MORE

SpiceJet: The Madras High Court has dismissed low-cost airline’s appeal against a single-judge bench order for its winding up due to non-payment of $24 million to SR Technics- a maintenance and repair company.

Rejecting the appeal, a division bench of Justice Paresh Upadhyay and Justice Sathi Kumar Sukumara Kurup suspended the order till January 28 to enable the airline to move a further appeal before the Supreme Court. READ MORE

Delta Corp: The company’s net profit jumped more than four-fold to Rs 65.90 crore for the quarter ended December 2021 as against Rs 15.49 crore in the corresponding quarter a year ago. Total income was up 127.2 per cent at Rs 168.30 crore from Rs 74.07 crore in the same period.

G R Infraprojects: The company’s board has approved a proposal to raise up to Rs 75 crore by way of issue of NCDs (Non-convertible debentutures), with a green shoe option of Rs 25 crore. The instruments will hold a token rate of 7.7 per cent annum, maturing at the end of 10th year.

JSW Steel: The steel major posted a 28 per cent YoY growth in the groups’ combined steel production at 5.35 million tonnes (MT) during the quarter ended December 30, 2021.

India Steel Works: The company’s board has approved a proposal to raise up to Rs 50 crore by way of rights issue of equity shares to existing shareholders.

Katare Spinning: The company’s Q3FY22 net loss narrowed considerably to Rs 20.79 lakh when compared with a loss of Rs 66.64 lakh in Q3FY21. Total income grew three-fold to Rs 81.32 lakh from Rs 26.47 lakh in the same period.

Radhe Developers (India): The company reported a significant improvement in Q3 earnings. For the quarter ended December 2021, it posted a net profit of Rs 16 crore as against a net loss of Rs 86 lakh for the quarter ended December 2020. Total income also surged to Rs 18.59 crore from Rs 12 lakh in the same period. The company’s board has also approved a proposal to invest up to Rs 11 crore in Party Cruises.

Sharat Industries: The company has scheduled its board meeting on January 18 to consider a proposal for rights issue of equity shares.

Hathway Bhawani CableTel & Datacom: The company reported a 13.9 per cent YoY decline in Q3 net at Rs 25.84 lakh from Rs 30 lakh. Total income was also down to Rs 93.16 lakh from Rs 1.11 crore for the December quarter.

Madhusudan Industries: The company reported dismal earnings for the quarter ended December 2021. It posted a net loss of Rs 47.74 lakh as against a net profit of Rs 1.89 crore in the corresponding quarter a year ago.

Choice International: The company’s board is scheduled to meet on January 14 to consider and approve  the issue price for the proposal rights issue, exchange ratio and record date for the same.

Stocks in F&O ban: Delta Corp, Indiabulls Housing Finance, Vodafone Idea and RBL Bank are the only stocks in the F&O ban period today.